Block trades revive across Asia as stock rally encourages sell-offs by several shareholders
Block trades flooded the market this week despite high volatility leaving only small windows of opportunity to get deals done. But improved market sentiment has helped stocks rally, encouraging those that want to do deals to test the market with their trades.
Shares of Jakarta-listed Astra International, a manufacturer of car and motorbike parts, were sold on Thursday, raising Rph1.1tr ($117m) for an undisclosed institutional seller. The deal represents 0.5% of enlarged share capital and was priced at Rph52,450 a 3% discount to the stocks closing on Thursday
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